Modeling Strategic Electricity Storage: The Case of Pumped Hydro Storage in Germany

Abstract

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Electric vehicles in imperfect electricity markets: The case of Germany

“…Schill and Kemfert (2011). We assume that 50% of the cumulatively installed loading/discharging rate and only 20% of the total pumped hydro storage capacity are available for arbitrage in any given hour.…”

“…Its solution represents a Cournot-Nash equilibrium. We build upon the ElStorM model described in Schill and Kemfert (2011) and extend it by introducing additional variables, parameters and constraints related to electric vehicles. …”

Price-based unit commitment electricity storage arbitrage with piecewise linear price-effects

“…The arbitrage application is widely discussed in the literature, both from a system (e.g., [10][11][12][13][14][15]) and from an individual storage plant's PBUC perspective, the latter being the focus of this article. Generally, there are two important assumptions in PBUC arbitrage models: the first is related to the storage operator's assumed knowledge of future prices, i.e., the (im)perfect price foresight assumption, while the second is related to whether they recognize that their (dis)charge actions may affect those prices, i.e., the price-taking or price-making assumption [16,17].…”

Primary energy consumption in the power generation sector and various market structures: a modelling approach

“…However, a review of existing electricity market modelssuch as: Schill andKemfert (2011), Lise et al (2008), Lise et al (2006), Borenstein and Bushnell (1999) -also shows that the widely accepted value is -0.4. Since this value is not significantly different from the results of econometric studies (Table 4), the price elasticity of electricity demand is proposed to be assumed at the level of -0.4.…”